2012: A year of CEO departures

Hector Sants announced his resignation as chief executive of the
Financial Services Authority in March, throwing the government's overhaul of
financial regulation into disarray. He was in charge of the regulator during
the banking crisis and spearheaded vital reforms in his five years at the
helm. He was due to become chief executive of the PRA and one of the Bank’s
three deputy Governors once the transition was complete next year. His
departure left the Bank of England and the Government looking for a new
regulatory boss. Sant later announced he would join Barclays as the head of
newly-unified compliance department as the bank seeks to restore its
relations with regulators and governments in the wake of the Libor-rigging
scandal.